Caerus Mineral Resources, the exploration and resource development company focused on developing mineral resources in Cyprus to support the global “Clean Energy” initiative.
Is pleased to announce a binding and exclusive Option Agreement (“the Agreement”) with London Listed Jubilee Metals Plc (AIM: JLP) (“Jubilee”), a leading company in the processing of waste materials for the recovery of metals.
Highlights
· Option Agreement is exclusive to Jubilee, whereby they have six months to assess the technical merits, development and economic prospects of Caerus’ mining assets in Cyprus
· The Agreement allows Jubilee, at its sole discretion, to identify one or more of Caerus’ assets to be converted into Project(s) under a Joint Venture arrangement
· Jubilee’s recent record demonstrates a rapid-growth and diversified metals processing company with strong technical management and a proven ability to move projects forward at a fast pace
· Caerus is a copper and gold development and exploration company focussed on Cyprus, and the owner of substantial stockpiles of copper and gold-bearing remnant ore and mining residues at-surface
· Caerus believes that the multiple large tonnage stockpiles of mining residues from the 16 former mines within its licence areas offer significant Joint Venture potential
· Jubilee’s current market capitalisation is approximately GBP 400 million
Martyn Churchouse, CEO of Caerus Mineral Resources, commented: “We are delighted to be able to engage with Jubilee at a time when the market demand for copper is so vibrant and is forecast to remain so for many years. We are fortunate to have within our wholly-owned tenements the mineralised waste from many of Cyprus’ former copper mines. This enables us to pursue a dual strategy of exploring for new underground VMS resources whilst striving to become a producer by exploiting our stockpiles of copper and gold-bearing waste. Since Jubilee is a recognised market leader in the recovery of metals from a diverse range of waste and feedstocks, they are a natural partner with which to progress our revenue-generating ambitions.”
For further information, please visit www.caerusmineralresources.com
